As Chex so fully describes, the dollar is the unit of account.Originally Posted by allodial
At least in 1964 you could go from the casino to the State of Nevada (a post Civil War "State" (organized district?) nonetheless)--you could get silver coin. Eventually thanks to Nixon & co., you could (from 1971 and after) hope to go from the casino to the nearest Federal Reserve District.
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The dollar is, in fact, a measurement, like an inch, a gallon, an acre...
I am trying to understand how a "dollar" can be priced at $1.29 per ounce, {as shown in the article clipping}?
If a dollar is a unit of measure, & a dollar is 371.25 grains of fine silver, how can it have any other "value" like ~ its equal to $1.29?
I say its equal to 371.15 grains of fine silver, Period.
Anything spoken beyond that is nonsense. The dollar can have no relative value. It has already been stated --> in law.
One could say a gallon of gasoline is priced at $1.29 dollar(s).
As the monetary unit of measure ALL OTHER items must be priced relative to the dollar, but that dollar could never be priced relative to itself.
And so today, when somebody states "...the dollar gained ground against the Yen today...", its like saying the "the inch had a much better showing against the yard, today!".
Nonsense.
Or am I missing something?
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